Deswell Industries Reports H1 2024 Results; H1 EPS $0.22 Up From $0.04 YoY; H1 Net Sales $37.7M Down From $44.4M YoY
Portfolio Pulse from Benzinga Newsdesk
Deswell Industries, Inc. (NASDAQ:DSWL) reported H1 2024 financial results with EPS of $0.22, up from a loss of $0.04 YoY. Net sales were down 15.1% to $37.7M from $44.4M YoY. Gross margins improved in both plastic and electronic segments due to lower raw material and labor costs, and renminbi depreciation. Net income was $3.6M compared to a net loss of $0.6M in H1 2023. The company has a strong financial position with $17.4M in cash and no debt.
November 17, 2023 | 4:17 pm
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POSITIVE IMPACT
Deswell Industries reported increased EPS and net income with improved gross margins, despite a decline in net sales. The company has a strong cash position and no debt.
The positive earnings per share and net income, along with improved gross margins, suggest a favorable short-term impact on DSWL's stock price. The strong financial position with no debt is also a positive indicator for investors. However, the decline in net sales could be a concern and may temper the positive impact.
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IMPORTANCE 90
RELEVANCE 100